Visits by the Financial Conduct Authority (the FCA) aren’t as common as they were pre-Covid but they still take place, usually as part of a thematic or sector review. They can be in-person (at a firm’s offices) or take place remotely. They might involve interviews of senior staff (not necessarily SMR senior managers) but there’s […]
Tag Archives: FCA
PREPARING FOR A VISIT BY THE FCA
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Also tagged case review, case run-through, FCA visit, file review, file run-through
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PREPARING FOR SMF INTERVIEWS
I help a lot of applicants prepare for interview by the Prudential Regulation Authority (the PRA) and the Financial Conduct Authority (the FCA) as part of the senior management function approval process. Here are some points that might be helpful if you’re called for interview. 1 Check the application documents at least ten days before […]
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Also tagged interview, interview preparation, PRA, senior manager interview, SMF interview
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FCA STRATEGY FOR CONSUMER LENDING – DEAR CEO LETTER OF 20 MARCH 2024
In a Dear CEO letter issued on 20 March 2024[1], the Financial Conduct Authority set out its agenda for the next two years for three portfolios in the consumer lending market: high-cost lending; mainstream consumer lending; and credit unions. The FCA says that A significant part of our supervisory activity over the next two years […]
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Also tagged access to credit, affordability, boards, complaints-handling, consumer duty, consumer lending, consumers, cost of living, Dear CEO letter, governance, vulnerable customers
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